Gold Rate Forecast: Will the price of gold come below 90 thousand, just on 9th July Wait till then
Gold Rate Forecast : From global market to domestic market, the price of gold is sky high. The reason behind this is believed to be tariff war. Experts say that on 9th July, the clouds over tariff will be cleared and after that the price of gold can also go below 90 thousand.
Wedding season is going on and gold is at its peak. Gold which had crossed the 1 lakh mark at one time is still above 95 thousand. Investors and customers are wondering if gold will go below 90 thousand and if it does, then when. Market experts say that there is every possibility of gold prices falling after July 9. By then things will become clear regarding tariff and the pressure on gold may also reduce.
Why is it likely to become cheaper? Commodity experts believe that due to uncertainty in the global market, the price of gold is currently running at $ 3,270 per barrel, which can go up to the level of 3,000 after the tariff problems are over on July 9. Investors will directly benefit from this. In fact, once the level of 3,200 is broken, gold can directly go up to $ 3,000 per barrel. This will also lead to a fall in the price of gold in the retail market.
Market uncertainty will decrease. Market experts say that things are not clear about the tariff right now, but after July 9, the clouds spread over it will end and everything will be clear about the tariff. If this happens, the price of gold will start coming down in the global market as well. Gold, which is currently around $3,300, may fall by about $300. With the reduction in uncertainty, investors will also turn back to the market instead of gold and the prices will also be affected due to the reduced demand.
Effect on currency market too Experts also believe that once the threat of tariff war is over, the currency market will also regain strength. The reason for this is that investors will start betting not only on gold but also on currency. It is obvious that if its demand increases, the currency market will start strengthening again. Not only will the dollar index strengthen, other currencies will also rise. The gold market will also benefit from this and investors will turn away from it and move towards other investment options. It is obvious that these changes in the global market will also affect the prices of gold in the domestic market and it can break down to the price of Rs 90 thousand per 10 grams.